Unigestion Holding SA raised its stake in Cabot Oil & Gas Co. (NYSE:COG) by 48.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,947 shares of the oil and gas exploration company’s stock after purchasing an additional 238,051 shares during the quarter. Unigestion Holding SA owned about 0.18% of Cabot Oil & Gas worth $12,843,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC purchased a new position in Cabot Oil & Gas in the second quarter valued at about $26,000. North Star Investment Management Corp. purchased a new position in Cabot Oil & Gas in the third quarter valued at about $29,000. Quest Capital Management Inc. ADV purchased a new position in Cabot Oil & Gas in the third quarter valued at about $37,000. Carroll Financial Associates Inc. raised its position in Cabot Oil & Gas by 50.4% in the second quarter. Carroll Financial Associates Inc. now owns 1,806 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 605 shares during the period. Finally, First Interstate Bank raised its position in Cabot Oil & Gas by 278.6% in the second quarter. First Interstate Bank now owns 1,893 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 1,393 shares during the period. 96.30% of the stock is currently owned by institutional investors.
Several research firms have commented on COG. Susquehanna Bancshares lowered Cabot Oil & Gas from a “positive” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, October 28th. Williams Capital set a $22.00 target price on Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, September 30th. Tudor Pickering raised Cabot Oil & Gas from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, August 2nd. Wolfe Research raised Cabot Oil & Gas from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 19th. Finally, Citigroup dropped their target price on Cabot Oil & Gas from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.07.
In other news, Chairman Dan O. Dinges purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of $16.34 per share, for a total transaction of $326,800.00. Following the completion of the purchase, the chairman now owns 3,104,405 shares of the company’s stock, valued at $50,725,977.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhys J. Best purchased 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $16.31 per share, with a total value of $122,325.00. The disclosure for this purchase can be found here. Insiders purchased 44,255 shares of company stock valued at $721,896 over the last quarter. Insiders own 1.90% of the company’s stock.
Shares of NYSE COG traded up $0.01 during midday trading on Friday, reaching $18.37. 4,523,128 shares of the company’s stock were exchanged, compared to its average volume of 6,745,395. Cabot Oil & Gas Co. has a 52-week low of $16.01 and a 52-week high of $27.65. The stock has a market capitalization of $7.39 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.76 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.37 and a current ratio of 1.43. The business’s fifty day moving average price is $18.04 and its two-hundred day moving average price is $21.09.
Cabot Oil & Gas (NYSE:COG) last announced its earnings results on Thursday, October 24th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $429.11 million for the quarter, compared to analyst estimates of $453.73 million. Cabot Oil & Gas had a return on equity of 34.92% and a net margin of 34.86%. The company’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Analysts predict that Cabot Oil & Gas Co. will post 1.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, November 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.18%. This is an increase from Cabot Oil & Gas’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, November 5th. Cabot Oil & Gas’s dividend payout ratio (DPR) is 35.40%.
Cabot Oil & Gas declared that its board has approved a share buyback program on Friday, July 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the oil and gas exploration company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Cabot Oil & Gas Profile
Cabot Oil & Gas Corporation, an independent oil and gas company, explores for, exploits, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States. It primarily focuses on the Marcellus Shale with approximately 174,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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